TREFLER ALAN 4

What Happened
Alan Trefler (reported as a 10% owner) had 2,498 restricted stock units (RSUs) convert to common shares on 2026-03-02. The RSUs converted at $0 exercise price; 2,498 derivative units were settled into shares and 814 of those shares were withheld to satisfy tax withholding (814 × $43.73 = $35,596). Net to Trefler: 1,684 shares added to his holdings. This was a vesting/settlement event (routine), not an open-market purchase.

Key Details

• Transaction date: 2026-03-02; Form 4 filed: 2026-03-03 (appears timely).
• Conversion/exercise: 2,498 RSUs converted to common stock (code M) at $0.00.
• Tax withholding: 814 shares withheld (code F) at $43.73 per share for total withholding of $35,596.
• Net shares received: 2,498 − 814 = 1,684 shares. Total beneficial ownership after this Form 4 is not reported here.
• Footnotes: F1 — each RSU equals one share on vesting; F2 — 20% of the RSUs vested on the date shown, remaining 80% vest quarterly over four years.

Context
This filing reflects RSU vesting and standard tax-withholding (shares surrendered to cover taxes), not a market buy or sell motivated by trading. Code M indicates conversion/settlement of derivative awards and code F indicates tax withholding. Because Trefler is reported as a 10% owner, this filing is an insider/major-holder disclosure rather than an open-market trade.